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Oil prices dive on signs of Hormuz diplomacy while Saudi Arabia is left hanging in fight against an Iranian ally threatening crude’s other chokepoint

Posted on September 11, 2026
By Fortune
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1 min read

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Oil prices dive on signs of Hormuz diplomacy while Saudi Arabia is left hanging in fight against an Iranian ally threatening crude’s other chokepoint

Foreign ministers from the Gulf Cooperation Council—which is comprised of Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, and Oman—will meet their Iranian counterpart on Monday.